Legal Marijuana Market is expected to expand at a CAGR of 25.5% from 2022 to 2030
Legal Marijuana Industry Overview The global legal marijuana market size is expected to reach USD 102.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 25.5% from 2022 to 2030. An increase in the rate of legalization of marijuana for medicinal and adult-use/recreational marijuana and the growing adoption of these products for the treatment of chronic ailments are the primary factors responsible for the growth of the market. Legal Marijuana Market Segmentation Grand View Research has segmented the global legal marijuana market based on product type, application, and region: Based on the Product Type Insights, the market is segmented into Flower, Oil and Tinctures. The oil and tinctures segment held the largest revenue share of over 50.0%. The majority of the countries that have legalized marijuana have done so for its medicinal properties. Marijuana oil and tinctures are being s...